Published on 11/23/2022 in the Prospect News Structured Products Daily.
New Issue: Citi prices $725,000 0% dual directional barrier notes on Nasdaq, Russell, S&P
By Kiku Steinfeld
Chicago, Nov. 23 – Citigroup Global Markets Holdings Inc. priced $725,000 of 0% dual directional barrier securities due March 27, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the worst performing index gains, the payout will be par plus 132.5% of the worst performing index return.
The payout will be par plus half of the absolute value of the lowest return if the worst performer declines but ends above the 70% final barrier.
Investors will lose 1% for every 1% that the worst performing index declines if it finishes below the final barrier.
The securities are non-callable.
The notes are guaranteed by Citigroup Inc.
Citigroup Global Markets Inc. is the agent.
| Issuer: | Citigroup Global Markets Holdings Inc.
|
| Guarantor: | Citigroup Inc.
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| Issue: | Dual directional barrier securities
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $725,000
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| Maturity: | March 27, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If worst performing index gains, par plus 132.5% of worst performing index return; par plus half absolute value of lowest return if worst performer declines but ends above final barrier; 1% loss for every 1% that worst performing index declines if it ends below final barrier
|
| Upside leverage: | 132.5%
|
| Cap: | None
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| Final barriers: | 10,258.031 for Nasdaq, 1,461.840 for Russell, 3,158.127 for S&P, 70% of initial level
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| Call: | Non-callable
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| Initial levels: | 14,654.33 for Nasdaq, 2,088.343 for Russell, 4,511.61 for S&P
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| Pricing date: | March 22
|
| Settlement date: | March 25
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| Agent: | Citigroup Global Markets Inc.
|
| Fees: | 0.95%
|
| Cusip: | 17330AXL1
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